MIRA INFORM REPORT

Report Date :

29.04.2013

IDENTIFICATION DETAILS

Name :	TRENDS REMEDIES PRIVATE LIMITED
Registered Office :	557 Civil Linessouth, Muzaffar Nagar – 251001, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	23.03.2004
Com. Reg. No.:	20-028426
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U24232UP2004PTC028426
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Pharmaceuticals Products.
No. of Employees :	10 (Approximately) [10 In Office]

RATING & COMMENTS

MIRA’s Rating :

Ca (15)

RATING		STATUS	PROPOSED CREDIT LINE
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security

Status :	Recently Commenced Business Activity
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Mr. Anurag Arora, Director has confirmed that even though the company was incorporated during 2004, it has recently commenced its business activities from April 2012. He claimed that the company has recorded sizeable turnover in its first year of operation [2013] and it expects better growth in future but the financials are not verified. The management of the company has failed to file its financials with the government department after 2010. However, business is active. Payment terms are unknown. The company can be considered for business dealings on a safe and secured trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Anurag Arora
Designation :	Director
Contact No.:	91-9837091429/ 9319418629
Date :	26.04.2013

LOCATIONS

Registered Office :	557 Civil Linessouth, Muzaffar Nagar – 251001, Uttar Pradesh, India
Tel. No.:	91-131-3290605
Mobile No.:	91-9837091429/ 9319418629 (Mr. Anurag Arora)
Fax No.:	Not Available
E-Mail :	trends_remi@rediffmail.com ajay7459@rediffmail.com

DIRECTORS

As on: 28.09.2010

Name :	Mr. Vivek Arora
Designation :	Director
Address :	557 Civil Linessouth, Muzaffar Nagar – 251001, Uttar Pradesh, India
Qualification :	03.02.1965
Date of Appointment :	23.03.2004
DIN No.:	00742336
Name :	Mr. Anurag Arora
Designation :	Director
Address :	557 Civil Linessouth, Muzaffar Nagar – 251001, Uttar Pradesh, India
Date of Birth/Age :	05.06.1953
Date of Appointment :	23.03.2004
DIN No.:	00742089
Name :	Mr. Prashant Arora
Designation :	Director
Address :	557 Civil Linessouth, Muzaffar Nagar – 251001, Uttar Pradesh, India
Date of Birth/Age :	10.10.1971
Date of Appointment :	23.03.2004
DIN No.:	00742388

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 28.09.2010

Names of Shareholders	No. of Shares
Anurag Arora	3400
Vivek Arora	3300
Prashant Arora	3300
Total	10000

Equity Share Break up (Percentage of Total Equity)

As on: 28.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Pharmaceuticals Products.

Products :

ITC Code	Products Description
30	Pharmaceuticals Formulation

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Suppliers :	ABS Mercantiles Private Limited
Customers :	Retailers and End Users Intas Pharmaceuticals Limited
No. of Employees :	10 (Approximately) [10 In Office]
Bankers :	Oriental Bank of Commerce, Muzaffar Nagar, Uttar Pradesh, India Canara Bank, G. T. Road, Muzaffar Nagar, Uttar Pradesh, India

Banking Relations :	--
Auditors :
Name :	Vinay Arora and Company Chartered Accountant
Address :	Muzaffar Nagar, Uttar Pradesh, India
Name :	Ajay Kumar Agarwal Chartered Accountant
Address :	500/1, Kambalwala Bagh, New Mandi, Muzaffarnagar – 251001, Uttar Pradesh, India
Tel. No.:	91-131-2607459
PAN.:	ACHPA0243L
Associates:	GS Pharma Private Limited (Year of Establishment 1980) Address: 1.5 Kilometer, Mangalore-Saranglow Road, Mangalore Boovler, India Line of Business: Manufacturer of Pharmaceuticals

CAPITAL STRUCTURE

As on: 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(0.076)	(0.069)	(0.063)
NETWORTH		0.024	0.031	0.037
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.024	0.031	0.037
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.009	0.006	0.012
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.005	0.005	0.005
Total Current Assets		0.014	0.011	0.017
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.010	0.000	0.000
	Other Current Liabilities	0.005	0.005	0.005
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.015	0.005	0.005
Net Current Assets		(0.001)	0.006	0.012
MISCELLANEOUS EXPENSES		0.025	0.025	0.025
TOTAL		0.024	0.031	0.037s

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	0.000	0.000	0.000
		Other Income	0.000	0.000	0.020
		TOTAL	0.000	0.000	0.020
Less	EXPENSES
		Legal and Professional Expenses	0.001	0.000	0.001
		Bank Charges	0.000	0.000	0.002
		Filing Fees	0.001	0.001	0.001
		Audit Fees	0.005	0.005	0.005
		Electricity Charges	0.000	0.000	0.012
		TOTAL	0.007	0.006	0.021
	PROFIT/ (LOSS) BEFORE TAX		(0.007)	(0.006)	(0.001)
Less	TAX		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		(0.007)	(0.006)	(0.001)
	Earnings Per Share (Rs.)		(0.70)	NA	NA

Particulars	31.03.2013
Sales Turnover (Approximately)	400.000

Expected Sales (2013-14) : Rs. 600 Millions

The above information has been parted by Mr. Anurag Arora

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.00	0.00	(0.02)
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(0.50)	(0.55)	(0.06)
Return on Investment (ROI) (PBT/Networth)		(0.29)	(0.19)	(0.03)
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		0.93	2.20	3.40

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last four years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

OPERATIONS:

During the year since no development work of the Company could be undertaken, hence Net Loss incurred during the year amounting to Rs. 0.007 Million (Previous Year Rs. 0.006 Million) has been transferred to Profit and Loss Account.

TRADE REFERENCES

• Intas Pharmaceuticals Limited
• ABS Mercantiles Private Limited

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 54.29
UK Pound	1	Rs. 83.88
Euro	1	Rs. 70.68

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	UDS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	2
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		15

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.